Circle mints $4.5B USDC on Solana as Ethereum sees stablecoin outflows

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This week, Circle minted $4.5 billion in USD Coin (USDC) on the Solana blockchain over a period of seven days, indicating strong institutional demand, as Circle only mints in response to verified institutional interest. This comes amid a notable trend of capital flow from Ethereum to Solana, partly driven by Solana’s performance advantages in stablecoin operations, highlighting its growing preference among institutional players seeking efficient blockchain networks.

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